Reuters - Money

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Wednesday, October 25, 2017

Lawyers slam key witness in ex-NYC union head's bribery trial

NEW YORK (Reuters) - Lawyers defending the former head of New York City's correction officers' union and a co-founder of defunct hedge fund Platinum Partners in a federal bribery trial told jurors on Tuesday that prosecutors' star witness was a liar.

Fidelity chairman says U.S. regulations lag social media advances

BOSTON (Reuters) - U.S. financial regulations on data retention do not fit with the way people expect to communicate on social media, Fidelity Investments Chairman Abigail Johnson said on Tuesday.

Hedge fund Greenlight bets again on Micron, others in Q3: letter

BOSTON (Reuters) - Hedge fund manager David Einhorn told investors on Tuesday that his Greenlight Capital made three new investments during the third quarter, including a new bet on chip maker Micron Technology Inc.

Old-fashioned retirement advice still works

NEW YORK (Reuters) - What is the best way to boost savings in workplace retirement plans?

Fidelity Chairman's video to employees: no tolerance for harassment

BOSTON (Reuters) - Fidelity Investments Chairman Abigail Johnson on Monday delivered a direct message to more than 40,000 employees at the asset management company: There's no tolerance for harassment.

Glass Lewis recommends ADP investors vote for Ackman's slate

BOSTON (Reuters) - Proxy advisory firm Glass Lewis recommended on Monday that Automatic Data Processing Inc shareholders vote for all three dissident directors proposed by activist investor Bill Ackman.

Activist mulls next step after failed Johnston Press board ousting

LONDON/BENGALURU (Reuters) - Activist investor Custos Group is considering its next steps after discovering a clause in a bondholder deal that hindered its attempt to oust Johnston Press top management.

Hedge fund Marcato sues Deckers over board election

BOSTON (Reuters) - Marcato Capital Management sued Deckers Outdoor Corp on Monday to force the maker of UGG boots to hold its annual meeting and classify the hedge fund's board nominees so the company could avoid millions of dollars in financial penalties.

Nestle CEO praised by Third Point but hedge fund still wants more

LONDON/BOSTON (Reuters) - Nine months into leading the world's biggest packaged food company, Nestle SA Chief Executive Mark Schneider got a tentative thumbs-up from a prominent investor, who praised his early steps on Friday but said there was more work to be done.

WASHINGTON (Reuters) - President Donald Trump on Monday dismissed the possibility of curbing a popular tax-deferred U.S. retirement savings program to help pay for his sweeping tax cuts, and voiced doubts about adding another top bracket targeting the wealthiest Americans.